Latest Posts
Home > Ask The Get Out of Debt Experts > Is Preferred Financial Services a Scam? – Darryl

Is Preferred Financial Services a Scam? – Darryl

“Dear Steve,

I live in California. What do you know about Preferred Financial Services at http://www.pfsdebtrelief.com/? Do you recommend or not recommend them? Thank you for your time.

Darryl”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Dear Darryl

I think I’ll let the review of Preferred Financial Services I just did for you do the talking for me. Read it and let me know what you decide to do.

Big Hug!

Is Preferred Financial Services a Scam?   Darryl
Get Out of Debt Guy – Twitter, G+, Facebook

P.S. Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

Is Preferred Financial Services a Scam? - Darryl by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Marionshade983

    I need to clear up my credit, I JUST DONT KNOW WHO TO BELIEVE  

  • Allibabiix0

    We are NOT a scam….We have a B rating on the BBB…a less then 1% ration of complaints in the 9 years we have been in buisness. You consumers need to realize that even your FAVORTIE restaraunt will have complaints, but you still go there correct? PFS is accredit with the USOBA and the Merrimack Valley Chamber of Commerce so it’s far from a scam…We are able to save people thousands of dollars an d hundreds on a monthly basis to help BETTER their financial situation. You have to understand there are pros and cons of every buisness, but 95% of our clients ARE satisfied and we do exactly what and how we explained. You also need to be careful. there are other companies with the same name in different parts of the US>..the legitimate company is out of Andover MA…and we are liscenced and bonded in several states. How could we be fraugelent when we take no up front fees or charges?? We are a PREFORMANCE based companie…if you dont have a full understanding of the debt settlment process then that is your fault for not asking enough questions to your program advisor..We help people the best way for their situation bottom line…

    • http://www.facebook.com/scolmenero Sylvia Colmenero

      Are you a spokesperson for the company?

    • Carol

      Do you all have a branch in Indy In.? Or is that one of the other companies you mentioned?

  • Docmetal

    Preferred Financial is a total ripp off . They do not do anything that You cant do yourself .they will flat out lie to You . They got over 2000 $ from Me. every one of My creditors has served Me and are taking Me to court .I beleived there BS and they have gotten Me in big trouble .They tell You that they have talked to Your creditors and have handled it then You get served . They do nothing but help themselves .

  • Docmetal

    Preferred Financial is a total ripp off . They do not do anything that You cant do yourself .they will flat out lie to You . They got over 2000 $ from Me. every one of My creditors has served Me and are taking Me to court .I beleived there BS and they have gotten Me in big trouble .They tell You that they have talked to Your creditors and have handled it then You get served . They do nothing but help themselves .

  • CCsSuck

    When I first read about PFS, I had pulled up an article that appeared to be an ad on CNN’s website. It was very professional, but explained how the new credit card legislation would hurt (rather than help) consumers. The information was very misleading, luring the consumer into their services. This is a much more informative site:

    http://www.creditcards.com/cre

    There are smart techniques to get out of debt, but PFS appears to be a scam compared to doing it yourself. I would recommend http://www.creditinfocenter.com instead. This is a FREE do-it-yourself credit repair site which explains everything from calculating your own credit score, obtaining a free credit report, paying down debt (the smart way), and negotiating with the credit card companies when push comes to shove. I have cleaned up my report (which had three mistakes) and negotiated my interest rate with my credit card company. If you are willing to be just as persistent as PFS, some CC companies will forgive some of your debt if they think that you are about to go bankrupt (in which case they would loose all of your debt). This may be a tempting offer, but it should still be used only in the worst case scenario because it can damage your credit. You will want to know how the forgiven debt will show up on your credit report.

  • CCsSuck

    When I first read about PFS, I had pulled up an article that appeared to be an ad on CNN’s website. It was very professional, but explained how the new credit card legislation would hurt (rather than help) consumers. The information was very misleading, luring the consumer into their services. This is a much more informative site:

    http://www.creditcards.com/credit-card-news/help/what-the-new-credit-card-rules-mean-6000.php

    There are smart techniques to get out of debt, but PFS appears to be a scam compared to doing it yourself. I would recommend http://www.creditinfocenter.com instead. This is a FREE do-it-yourself credit repair site which explains everything from calculating your own credit score, obtaining a free credit report, paying down debt (the smart way), and negotiating with the credit card companies when push comes to shove. I have cleaned up my report (which had three mistakes) and negotiated my interest rate with my credit card company. If you are willing to be just as persistent as PFS, some CC companies will forgive some of your debt if they think that you are about to go bankrupt (in which case they would loose all of your debt). This may be a tempting offer, but it should still be used only in the worst case scenario because it can damage your credit. You will want to know how the forgiven debt will show up on your credit report.

  • Tom

    Don’t do it! Yes it is a scam.

  • Tom

    Don’t do it! Yes it is a scam.

  • Tim Moran

    Hi Steve..

    I, too, have a had a conversation or two w/ PFS. Boy,once they get
    hold of your phone #,they are RELENTless. By the way, I recently looked
    up PFS on the BBB website- they got an F !!!The gent I spoke to @PFS tried
    to poo-poo this as not meaning very much,of course.The problem is, as
    you pointed out,is that there are no clear-cut indications that Debt
    Relief is ACTually a viable way to deal w/ one’s debt.There is a LOT
    of info out there; trying to make sense of it all is a very daunting
    prospect.Despite having read MANY articles about D.R., I feel no closer
    to knowing if this might be right for me than I did b4 I started
    researching the topic! I did call my creditor; their official response
    was that they “don’t deal w/ D.R. companies”. The big question is: why
    would a creditor to whom one might owe,say,$10,000 accept $5000?
    It just doesn’t seem very logical.

  • Andy

    Well they are definitely not “a scam” – they do legitimately help people get out of debt – like me! There are so many people that get into a program that have no idea what they’re getting into and freak out and then blame it on the company. They saved my @$$ and I have nothing but nice things to say about them. I hate to see them bashed when they actually do what they say they are going to do.

    • cheryl

      Hi,I just enroll through PFS1,would you please tell me that they ask the same thing to you such as:ss#,bday,bank accnt,and my creditcards number?is this what they did to you too?please reply on me, I just want to know if this is normal that the debt settlement companies ask this kind of very important information.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.